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in the last four years, during the daunting challenges of the worse in iraq and afghanistan have been truly remarkable and the nation owes him our deepest gratitude. it is appropriate at today's hearing also to note the passing last week of former chairman of the joint chiefs of staff, retired arm general john shalikashivili. his personal story is well known, rising from post-world war ii immigrant youth to chairman of the joint chiefs. his example of patriotism, leadership and selfless service to the nation and our armed forces inspired the generation that leads our military today. for those of us who knew him, we treasured his professionalism, his candor, and his deep love for america and our men and women in uniform. general denver mpsey's confirma will help the transition to president obama's new security team which have seen significant changes in the last few months. the next chairman will face demanding challenges, operations in afghanistan and iraq continue to at the same time the fiscal realities that confront the nation will put tremendous pressures on the defense department's bud
down the cost of our military efforts in afghanistan and iraq. last year we spent a little over $150 billion. this year we'll spend a little over $100 billion. and the plan is to soon be down to at least $50 billion in two or three years. so over the ten-year period there'll be about eight years at nearly $50 billion or so spent on the war instead of $150 billion. that's part of thelan that we've been operating on for a long time. $150 billion for the w is not baseline expenditure of the united states. it was never projected to continue at that level, so hopefully we could bring it below $50 billion. maybe we went get to $50 billion. i don't know. but what is the reasonable estimate? i think the house republicans and the president said it would drop to $50 billion, and that would be the baseline out there for the rest of the time. that's $1 trillion. that's $1 trillion. so you take $1 trillion out of the $2.7 trillion, you're down to $1.7 trlion. and another thing that's scored in tt, since that $1 trillion in war costs is scored the way mr. reid scored that, which is phantom money,
dark. paychecks for troops in afghanistan and iraq and based around the world could stop. f.a.a. towers could shut down. so could the f.b.i. and the c.i.a., border crossings could close, safety inspections of food americans eat and cargo that enters our ports could halt. literally every function of governmentould cease. social security checks, payments to our veterans. we've heard that before. there would be no discussion of which operations and personnel were essential. all the payments would very likely stop. some have said we could priorize which bills to pay. even if that wouldn't irreparably damage our nation's reputation and credit in the global economy a the globe at community, which it would, is also a complete fiction. our government won't even be able to cover the bills due on august 3. it will simply run out of money and because we'll be in default and our credit rating trashed, we'll be able to borrow the money not again to keep running, even if we wanted to. that's a picture secretary geithner painted. like i said, it's grim. many of my republican colleagues understand this
is going to count winding down the war in afghanistan as a substantial part of the savings. that could be worth about $1 trillion over 10 years. meanwhile, john boehner is working on his own deficit- reduction debt limit increase plan. he would take -- that plan would be affected in two stages. the first would be $900 trillion or so deficit reduction package, spending cuts, paired with roughly equal amount in debt limit increase. then he would empower a special committee to find an additional $1.60 trillion to authorize or trigger another increase in the debt ceiling. the problem with this proposal, however, it would require raising the debt ceiling by the requisite $2.40 trillion amount into the stages. that is something the president and democratic leaders after yesterday's said is a nonstarter. they say it would create too much uncertainty for the marketplace and the economy if this process had to be replaced at the beginning of next year or summer of next year. >> the house republicans made their own at last it with a cap and balance plan that did not make it to the senate. the pre
about fraud in afghanistan, iraq, pakistan, and now the congress wants us, after giving away our jobs, not fair trade, free trade agreements -- now they want to go back and give them away with korea. i cannot believe the direction that this country has gone in. we keep talking about corporate tax rates. that is the key word. "rate." they are not paying 35%. they are paying 4%, 6%, 9%, and i am making up the difference. the irs is after a relative of mine who lost their job. they owe them $5,000. karzei and his brother have walked off with billions of dollars and our congress cannot seem to stop it. guest: well, there is a lot there. obviously, a lot of these countries, and it is very disappointing to see fraud and hopefully over time it will go down, i do not want to make any excuses for it because there are no excuses for that activity. a lot of these countries do not have the same developed a rule of law that we have over here. even in our country, there have been instances of fraud and bribery and things like that. there were huge problems in its new jersey and in the past. in illi
Search Results 0 to 4 of about 5